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tv   Varney Company  FOX Business  September 29, 2014 11:00am-1:01pm EDT

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showing weakness as you can see, some economic data out this morning and really strong numbers from the dallas federal reserve. time for "varney & company." have a great show. stuart: thank you, maria. yet again something happens over there and we pay the price over here. yeah. good morning, everyone. this time it is hong kong. taking to the streets to demand democracy. they were met with tear gas, pepper spray, beijing coming down hard. will the democracy demonstrations spread? 1989. that is the newest backdrop to the wall street selloff. hitting an already wobbly stock market here. don't forget alibaba took tens of millions of american dollars when it launched here in america.
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"varney & company" is about to begin. ♪ let's get right at it, hong kong and our market here. the dow industrials down 84 points in the very early going. "wall street journal" editorial board is with us. both you and i have lived in hong kong for many years, we have done that, we understand what is going on there. i see this is a real challenge for beijing. you? >> yes, it is. a challenge that has been building for months if not years, stuart. hong kong was promised full democracy by 2017, and in july beijing this is supposedly reformed government said actually hong kong, you are not going to get that. in august they came out again and said by the way when you do have elections beijing is going to pick who runs.
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hong kong is important not just because it is a major trading and financial center, not because it is a beacon of free market given opportunities to millions of people for decades, it is important because it is the bellwether for china. what this says is the regime in china has no interest in democratic reform and i'm afraid, stuart, if the demonstrations continue, which i believe they will come you can see violence on the part of police or gangs they send in to excuse it. stuart: suppose it spreads, supposed similar demonstrations where i believe there is something coming up in the near future. charles: it is a special ministry of territory in china but far more infiltrated by the communist security forces and it is far more servient to china. i think the real danger for the one-party state in beijing is if
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you see across the border where you have slightly freer press than the rest of china, protest like what is going on in hong kong happening over there. >> they would move heaven and earth to stop anything from happening in beijing. >> i don't think there's any question china will do whatever it takes to crush these protests, and i hope very, very much the u.s. government and especially britain come out with much stronger statements and thethey have the last couple of hours. u.s. came out and said, and i quote, "we don't take sides." we don't? stuart: what about alibaba? they went public and they raised over $20 billion american money, which has now gone for a chinese company. is there any relationship? >> all you have to do is read disclosures and that investment. they knew what they were getting into, but how are they
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prospered? by getting into the charmed circle of making friends with the leadership in the country. stuart: which is now cracking any suggestion of democracy in hong kong. who runs alibaba, relationship with beijing and hong kong. >> one of the most important elements is the people in hong kong have experienced the awakening. the democratic leaders of the past, these people have largely moved from the scene and now you have a whole generation of people who want to preserve freedoms in hong kong. stuart: it comes at a time of our market is already looking wobbly so this is just another negative that is out there over there. it will not go away, we are going to stay with it with people who know firsthand the importance of these riots and the clash with beijing. now look right now, the market down 87, we were down 140.
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growth concerns and the political unrest in hong kong is hurting our market here. more on the growth concerns later. s&p 500 right now down about half a percent. as for the nasdaq, how is the technology stocks doing right now? not as bad as the blue chips. somebody asked me the price of oil, not much, it hasn't been moving much recently. still around $1200 per ounce but the 12 year treasury is now well below 2.5%. that has a loss to do with the rest of the world slowing down. down on the 10-year yield. the maker of "shrek" and "how to train your dragon" down. dreamworks. nicole: this stock is up about 17% off the earlier highs. the reason why dreamworks animation's to the upside, hollywood reporter is actually
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reporting japan's softbank may be interested in buying or tying up in some way with dreamworks animation. $3.4 billion deal roughly again on reports, as you noted they can use "shrek," they can use it for mobile services to market the brand and what is interesting is now we're seeing lions gate getting a pop on the news. the reason they are getting a pop is because they aually put a buy rating and noting now it shows the franchise value is really evident it is invaluable in fact have a lot of names in the asian market as well. b names such as hunger games, divergent, the names of they are tied up with. it is about the asian story coupled with this great franchise. stuart: japan's richest man. he took a ton of money out.
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to the economy, working age america is not working although one in four of people prime time for working on employed, not looking for work or they will not get a paycheck. from washington. this goes the whole concept of the disconnect, the spin of this level is positive, reality on the ground is nothing like that at all. i can't remember a time when a quarter of the prime working age population was not working, can you? >> the president eventually with 60 minutes giving an interview about how wonderful the economy is, how many jobs have been created and it is a divorce room reality because with these statistics are telling us is we are just shy of one out of four americans in the prime of their working age are not working.
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3.5 million prime working age americans that have dropped out. stuart: you can't say this is people going into college because the prime working age is 25-34. so what is going on here, what is going on with that quarter, that age group that is not working? >> i think there are two factors here. we have a shortage of jobs. i think we will get a good number on friday for jobs but we are still half the level of jobs we would normally be in this stage of a recovery. not the supply of jobs, but the second one that is overlooked too often is demand. that is a lot of americans have dropped out because they have other alternatives for income and i'm talking about welfare. when you have 47 million americans on food stamps and expanded medicaid, extended unemployment programs, you've gotten rid of work environments, cato institute study shows you
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have a full list of benefits, 35-$40,000 tax-free without working. i think that has something to do with it. stuart: i think you made your point very well. i want your take on something in the financial times this morning. a poisonous combination of record debt and slowing growth suggests the global economy could be headed for another crisis. that is pretty strong stuff, i think that has to do with today's market decline, what do you make of it? >> i love the rise in the dollar, we will get a good jobs report. we had a revision of gdp that came out late last week that showed business investment was up more than we thought, that is a very important, positive leading indicator. now i have to tell you, i have been wrong the last two years. whenever we have an upbeat
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assessment of the economy, we dip down again. this could be another one of those bounces, but for the short term, i am bullish. have to explain to me why the dollar is doing so well, why businesses are starting to spend again. those are very optimistic signs. for the short term, i am optimistic. stuart: one thing that surprises me is the dollar. i thought of the australian dollar closely, one australian dollar, i'm not going to ask you all that you have done, but 18 months ago one australian dollar is worth $1.10 u.s. today worth about 87 u.s. cents. that is a huge decline and a huge run-up for the u.s. dollar. i have to believe a flight to
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safety all over the world you have this massive debt that printing money like crazy, america stopped printing and we are relatively stable so up goes our dollar. >> i'm going to challenge on that one. there is something to that, it is clear you just noted the interest rate on the 10-year treasury bond dropped with the news of what is happening. every time there is turmoil around the world, stuart, people rush to the dollar. it is the flight to safety. but then explant me like my the prices are falling and why the price of gold isn't fallen. if you really want to safety, the gold price will rise. you have to explain that one to me, stuart. stuart: you don't get the price of gold to go up unless we have inflation. they are killing me. you lost the argument, so get out of the interview. >> i think you've got a good
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come back. i am not so young. stuart: we will see you again soon. we will dig deeper into this disconnect in our next hour. there are dozens of restaurants, going to tell us about the restaurant business as a result of president obama's policies coming up. how is this for hypocrisy? billionaire couple beyoncé and jay-z at the global citizen festival. this is a festival about inequality aimed at ending global poverty. roughly 60,000 people attended and left quite a mess behind, didn't they? so what's the dumbest readers who left trash all over new york the week before. moving swiftly along, item one. a new study says regulations cost taxpayers more than 1.8 trillion every year. the judge has something to say about that.
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forbes released an annual list of the 400 greatest americans. bill gates tops the list for the 23rd year in a row. 100 alien heirs did not make the rich list. and investors: $60 billion out of pimco after the cofounder bill gross left the company according to charlie gasparino. they really did not like gross at pimco, so can you shout at your colleagues and keep your job these days? now there's a question for you. don't shout at me be at president obama blamed intelligence community on the rise of isis saying they underestimated the group. intelligence community is not happy about that. here next. ♪
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mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪
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stuart: now look, the market is coming back. we were down 142. maybe it is because this is the middle of the night in hong kong. they have certainly wound down because we don't know what is going to happen tomorrow. maybe that is why the dow is coming back a little. the biggest losers are big oil, energy is dragging down the
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entire market. the big-name blue chips are losers on the dow this morning. look at the price of oil, pretty flat, $93 per barrel. president obama blamed intelligence unit chief underestimate in the rise of isis in iraq and syria. mike baker responding to that with this. >> we've been reporting not just the cia but military intelligence have been coping information into the white house for up to two years now on the growth of the islamic state, on the chaos that was created by abandoning iraq, assessments on the concerns over the readiness of the army, the technical leadership command and structure. stuart: intelligence new t is clearly not cap with what president obama had to say on
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"60 minutes." neither are the voters. that is when usama bin laden was killed, down 38%. fox news contributor judy miller is here. was that a pivot, it is not my fault? >> my head is spinning around so much it is hard to steer straight at you or the camera. it was a pivot, the transformation of barack obama into a wartime president, into george w. bush, who also blamed intelligence community for bad information which led to bad judgment, but this is worth in a way. i will tell you why. it is true the head of the defense intelligence establishment said yes, we underestimated isis strength and we overestimated the iraq government capacity to fight back, but in fact michael flint, the departing defense intelligence agency guru
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testified this is exactly what is going to happen. seizing territory, they were going to seek deep roots. john mccain stood out publicly and said in january the black flag of al qaeda is now flying over falluja. we have had warnings after warnings after warnings and the president disregarded the intelligence he got. it is not that he got bad intelligence, would not pay attention to the warnings our intelligence community was giving him. stuart: do you think you'll ever pivot again toward saying we're going to be straigh destroy isis therefore we need the marine corps in there. could he have chosen that kind of pivot, would he do it? >> i think it could be possible if the poll numbers continue to deteriorate. is this a true change of heart for the president or is this political expediency?
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it is a question all journalists should ask. >> first 12 have to distant was between intelligence bush got with poor intelligence, it was wrong and intelligence president obama got which was correct and he chose not to act on. the question now is the distance between what the president says he wants to degrade and destroy isis, and here is what we have to do to achieve that and what the president is allowing to do. the rhetoric is one thing, but what h he's letting them do on e ground is quite a different one. >> he is laying the groundwork for a pivot on the ground because as he had one of his key advisors say it is not possible to do what we want to do without boots on the ground so after the election he is laying the groundwork for turning around on this issue if he needs to.
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stuart: mi right to say, his men paul ryan address this? now this morning, san paul ryan on fox business had this to say about president obama's handling of the pentagon. >> at a time we have all of these threats when the president is acknowledging the threats, proposing to devastate the military. the budget negotiations, they use defense as a bargaining chip and are happy my opinion to cut defense because all you have to do is look at the budget. stuart: cutting defense dramatically. >> it ensures that is going to happen. congress also has to now pick up this issue again and say perhaps an army 450,000 men and women is not good given the power play of threats we face. >> one other thing about that interview that was very worrisome, the president advocated response ability for what happened to iraq after u.s. troops left.
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instead of taking responsibility and saying maybe we made the wrong decision. stuart: thank you very much for joining me this morning. forbes annual list of the richest people in america out today, and it is our country's tech pioneers leading the way. steve forbes breaks it down next. ♪ opportunities aren't always obvious.
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stuart: the market is coming back. a prof sage report on manufacturing. we are saving a bit more money. we are down 50 points. two more weeks to get chicago's o'hare airport back to normal. a fire set last week.
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some flights have resumed. it is a list of the richest americans. the 10 richest intech knowledge chewed on that list are 23% wealthier than they were a year ago. here is what steve forbes has to say about this. stuart: what proportion of these americans are self made? >> over two thirds. much of the remainder are people who have inheritances. most of these people made it on their own. >> absolutely. that would be very different. >> when we opened this list back in 1982, no two + today.
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david rockefeller, the only one on the list today. there is an enormous turn on this list. they come up with a great new device to take blood. amazing advances. stuart: okay. 113 billionaires did not make your list. that means that the bar has risen. it means the rich are getting richer. inequality is getting worse. >> they will be on our global billionaires next year. what it also says is a the wealth of the nation is going up. legitimate talk that this
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economy is not performing the way it should. stuart: that concentrates wealth. they make a lot on money. great wealth. we have a real estate developer. we have a rock star. so, it cuts. not just talk. that is a wonderful thing about this country. starbucks coffee. the most common commodity out there. stuart: an awful lot of people that want to be in this list and will try to pop up their assets to get on your list. we do have some cases where some
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people do not want to be on the list. they did dispute what we had for them. he was in the midst of a divorce. he did not want his wife to know how much he was worth. back in the top 20. now figure out what he is going to do that. he has got 20. he is not worried about it too much. it will be interesting to see. do not do the same things like putting in a new dormitory. this is where he may make a real
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contribution. now worth $82 billion. investors point big money out of this goal. they threw a party after bill gross left. he tried it. he is out. ♪ when folks think about what they get from alaska, they think salmon and energy.
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but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. "hello. you can go ahead and "have a nice flight."re." ♪ music plays ♪ music plays
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♪ stuart: it is a great song. that, reportedly, is a song that they played at pimco offices after bill gross left. you cannot shout. you cannot abuse your colleague.
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even if you are the founder of your company. >> it was just how many times i heard them say he was losing his welcome. stuart: you yelled at me. [laughter] >> and i yelled back. it bleeds into abuse. i get that. i think it is insisting on this place. he has a lot of people under him. he saw a chance to cool him. he saw it coming and he got another job. >> the marquee fund. stuart: we know he has lost
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10 billion. is he going to lose a lot more? it is the one fund, the marquee fund, a total return fund. they are worried about investors yanking $60 billion. they are prepared for that. apparently, the growth for a bond market the client or for this to happen. it is kind of interesting what went on here. they can't handle it.
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you do it generally through a broker. there will be switches from there to janice. bill gross did not miss a day. why is that? he will take his longtime record. you cannot really count the long-term record. it is actually very good. stuart: charlie, always good. nearly 100,000 people were out in hong kong earlier today. look at the big board. we will have some impact on america's stock prices. the u.s. consulate says "we do not take sides in the discussion of hong kong's political
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development. i have never seen anything like that. i have been covering hong kong and living in hong kong before. >> i lived in beijing. we are seeing hundreds of thousands of people. the main issue is it will be very difficult to compromise. they want the ability to choose people. he is agreeing with that. there really is very little middle ground here. obviously, you can see a lot of those images. stuart: that is what everyone is talking about.
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at that point, much of china is pretty much paralyzed by these demonstrations. >> it has been largely peaceful. the police have pulled back. stuart: i have not seen anything like that before in hong kong. tear gas, pepper spray, 100,000 people. >> this is extraordinary. absolutely. you may see a swell leading up to wednesday and thursday.
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stuart: fascinating. glad you are on top of it. a new study finds needless government regulation causing taxpayers $100 trillion a year. handouts like the popular obama phone. not helping. we have new numbers for you. judge napolitano on the case. ♪
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a new investing and banking experience with personalized guidance and online tools. visit a branch, call or go online today. ♪ nicole: i am nicole petallides with fox business brief. the dow is down about 180 points. we are watching nikes and dow components. more players are wearing nike. a new high today. some of the dow losers. chevron, exxon among the dow. harley davidson. take a look at that.
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the stock is down 1% right now. more "varney & company" coming up. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ [ beeping ] your customers, our financing. your aspirations, our analytics. your goals, our technology. introducing synchrony financial, bringing new meaning to the word partnership. banking. loyalty. analytics.
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synchrony financial. enagage with us. means keeping seven billion ctransactions flowing.g, and when weather hits, it's data mayhem. but airlines running hp end-to-end solutions are always calm during a storm. so if your business deals with the unexpected, hp big data and cloud solutions make sure you always know what's coming - and are ready for it. make it matter. stuart: take a look at that number. roughly $1.8 trillion a year. then, we have handouts.
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like the old awful fold. they add to the number. the obama phone program grew in three years and one state. merrill lynch. in one small state. all rise, judge napolitano is here. >> i did not know it existed until your friends pointed it out to be this morning. it started with the fec coercing the phone companies into giving out the folds for free. they are crawling all over each other.
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that is money that they know will come in from uncle sam. authorizing to give away folds to coerce a phone company into giving away folds and then to pay the bill on the phone. stuart: is that the interpretation of the constitution? >> it is not unconstitutional. >> the whole welfare program is unconstitutional. we now know that they will duet.
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there is nothing more permanent than a temporary government program. it simply does not die. the bureaucracy stays the same. the people that it understood the program and spend our dollars are the same. they are not approved by congress. every single item of expenditure should be approved by congress.
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stuart: remind me never to argue the constitution with judge andrew napolitano. >> can i say happy anniversary? [laughter] do you agree with the allegations about the misspent money? >> you have got to go, stu. you've got to go. stuart: thank you. the all-important midterm elections. national review columnist gives us a prediction next. ♪
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♪ stuart: 35 days until the midterm elections. twenty-five democrat seats and 15 republican seats up for grabs. john, we've got 35 days to go and the gop is not running away with this. why not? >> clearly, they have decided to play a very cautious defense.
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they are trying to sit on a lead. i think that their legal holding up to take the senate. stuart: that is the tactic. to sit on the lead. do not say anything provocative. do not be demagogues to death by some tip of the tongue. really? >> it is called the four corner school and basketball. the economy is sluggish in the key states. president obama has become very preoccupied with foreign policy. i think the republicans will win and the polls indicate that more and more people believe that president obama just is not delivering the goods. >> i cannot believe it.
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foreign policy is in disarray. i would thought that the republicans would come forward with one brilliant statement. it is not happening so far. i know you wrote the book on eric holder. you called him obama's enforcer. i think it will be delayed until january when there will be a new senate. whoever president obama appoints will be the same policies and
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whoever is nominated will have to explain them. stuart: if you are right, it will be an uphill struggle to replace mr. holder with someone similar with his outlook. it will be a very tough climb for the president. >> in the end, i think presidents get the nominees that they want. he does not want questions about past and periods. stuart: do you know anything about the reverend al sharpton having some kind of role? >> according to politico magazine, al sharpton has become the go to guy.
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he is a racial polarizer. we have gone from martin luther king i have a dream speech in 1963 to all-star bids i have a scheme and 2014. it is kind of a shame. stuart: thank you for joining us. they are rioting. what happens there affects your money here. we are on that one. prime working age americans are not working. the second hour is two minutes away. ♪
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3rd and 3. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500, its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon, a different kind of wealth manager ...and black swans are unpredictable. ♪ stuart: six years after the crash, things are still not
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going well. america has not returned to widespread. record debt levels and slow growth are a poisonous combination. that is according to a prestigious group that talk directly about another crash. one quarter of all men and women in their prime working years are not actually working. throw in a riot in normally stable hong kong and you have the make. of a selloff. bringing you to the ground floor of this economy. six years of all government all the time. what is it like. ♪
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stuart: the dow is only down 42 points right now. riots in hong kong coming back 100 points. good news on the dallas fed. let's backtrack to hong kong for one second. about 100,000 people took to the streets there. here is what barry kissel berry kissel had to say about it last hour. >> it is important. not because it is a beacon in the free market. it is important because it is a bellwether for china. the regime has absolutely no interest in democratic reform. stuart: keith fitzgerald will be back with us. what it means for us right here. what does it mean. take a look at the price of
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gold. $1.80 higher. look at dreamworks, please. winner on a down day. a possible merger or investment. now 20%. that is a rally. 23% of americans in their prime years. apple metro is with us. thirty-seven applebee's in the new york metro area. welcome back. >> i want you to give our viewers a picture of the restaurant business you are in. what does it feel like? >> like isis. we are under assault in our industry. it is incredible to me how far
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removed. washington is always far removed from things on the ground. still have not been able to navigate or figure it out. stuart: talking about obamacare. >> still trying to navigate it. no one knows. paid sick leave, it is a weeks vacation. the government is like a union. it has moved in and said so. there are companies that have filed for bankruptcy litigation. i have not heard much about
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these. you are saying that the government is imposing. >> you have to change the wages. >> you have unionized they should. >> without a dow. >> from all directions. tough enough to run. you have to put it in a dish. you have to serve it. >> he sounded off on the economy. he said, essentially.
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they are getting squeezed. they are closing down. >> absolutely. there is a new concept that used to be fast food, casual dining, which we do. you cannot roll this stuff back. all of these work rules. you are stuck with it. >> you can always hope. whoever comes in will be better
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than the present administration. there will be some realities on the ground. what is real and what you read in his book. stuart: is your point of view widespread. >> i will go back to my office and there will be 200 phone calls. what are we doing about this paid sick leave. people are just fumbling around trying to figure it all out. the hand-me-down hard-line rules for it all. stuart: we like to have you on
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the show to tell us about reality. stuart: getting back to wall street. i have a winner for you. a $24 ipo. pushing 90. why is this? they have their basic go pro model. we have faster frame rate. go pro never had that before. as well as ocean depths. 130 feet. it is not like i am reading that. they wear them. the stock continues to fly.
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the news is out. they will be out on october 5. stuart: thank you very much, indeed. possible homegrown terror. a man in california accused of beheading a coworker. trying to convert people to islam. should i call this workplace violence or should i call it domestic terror? what would you say? >> this is domestic terrorism and global terrorism.
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he was radicalized in prison. that is where he converted. when they get out, his facebook page shows a narrative where they were anti-muslim. this is a guy that is no more a loan wolf than a pool virus that affects and individual. his ideology was an islamist radi thing. you are a practicing muslim. you have.
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many times on this program. you are a brave man. you practice islam in a way that we can understand this. why is the administration so -- they will not say domestic terror. why not? >> their advisors are part of a global islamic movement. more so, i will tell you, they are ignoring why some of us like me are doing what we are. the anxiety in america is only increasing exponentially. we need to be at the head of the sphere. we will deny the very rough form
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that has to happen. they just do not want to deal with it. you'd rather be on the golf course. as a result, we are marginalized as reformers. stuart: you served in the american navy for 11 or 12 years. do you think that we can beat, destroy isis without american soldiers on the ground? >> in iraq, i do not think so. you have millions fighting against the side. he underestimated them because he had no strategy. many of us were screaming.
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weekend defeat them. trying to find at least a moderate. they both can ultimately, if they are attacked from the air, give room to the syrian army. stuart: thank you very much for joining us, as always. stuart: we talk a lot about the sharing economy on this program. a mobile taxi app. business under fire. two people splitting the fire. comedian rob schneider dropped as a spokesman because of his stance for vaccinating your kids. doctor mani is here for that. being billed as a facebook killer. no ads. how do they make money?
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stuart: walmart is reaching out. the ceo and cofounder of instagram. you know we keep a close eye on these stocks. down again today. this is in part because of those hong kong riots. all of them down sharply. they hope to have chicago's o'hare airport back to normal by october 15. this is a current map of flights in and out of the area. i am not sure i can see much. still, not as many as usual. jeff flock is at the airport. >> a lot of the flights that are leaving are pretty close to being on time.
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you see some of the people checking in out here. 420 flights canceled. now, the number of cancellations. that is a lot more damage out there than we thought. water damage, smoke damage, fire damage and a lot of cables cut by this guy as well. a troubled employee. not terrorism. >> that is why it has taken until october 13. >> it is almost a total rebuild out there. 3:45 p.m. eastern. he will go through a federal
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magistrate. >> the damage he allegedly did. then we have san francisco prosecutors threatening ridesharing apps. you take a car with a couple of other people and you cannot split the fare. if i order up a sidecar. we'd get to our destination. i cannot divide up the fare into thirds. that is illegal. is it? >> that is right. the state of california is saying that you have to have only one person pay for that trip. >> you guys are always up
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against the establishment order. butting up against the weight things used to be. i cannot see how you can possibly lose this one. why can't you split the fare? i have to tell you, it has gotten very serious. we got a letter from san francisco. how about background checks on drivers. you do background checks, don't you? >> we do a seven year look back. we do a lot more than background checks.
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stuart: is it possible that you guys have somewhat similar services. is it possible that you guys will lose this and you will be kicked out of san francisco? kick out of a very important market? >> people have rallied behind sidecar and other companies. it is really driven by wanting to protect the industry. if people rally, then it can happen. without that public support, yes. >> we are operating. we are engaging. we will work out a productive outcome here.
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jumping in with two friends. i split the fare between the three of us equally. who gets fined. myself or you guys. >> unfortunately, we are heading down that path. stuart: okay. we wish you the best. thank you very much. the ups store wants to bring 3d printing to the masses. one hundred locations across the country. what are they doing? ♪ ♪
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mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ]
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♪ [ beeping ] "hello. you can go ahead and "have a nice flight."re." ♪ music plays ♪ music plays traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the fewest cancellations and the most on-time flights are nothing if we can't get your things there, too.
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it's no wonder more people choose delta than any other airline.
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{door unlocking} hey, what's up? (door closing) how's it going? what are you doing? i can't believe you're watching this without me. we agreed we'd catch up on everything tonight. if i did this to you, you'd murder me in my sleep. you know what? just watch it by yourself. (sighs) i can't not know when i know that you know. the latest episodes of the top 100 shows are preloaded and ready to watch with xfinity on demand. stuart: the ups store joining the 3d printing resolution. here is ups store vice president of sales and marketing.
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i have some rapidfire questions. what kind of things are you printing at york ups stores? a lot of the customers that we have had so far have been inventors. make an adjustment. we are able to help them get things started. >> i have one of the things that you can print in the store. how much to print this and how long did it take? >> the pricing really it varies. to give you a gauge, it should run for as little as $20. if you have a custom iphone case that you want to make, that
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could be $60. it really does base on what the size is. >> i just bring in the software. >> that is right. some of our stores to offer other services. we have full services. we have a scanner. they can insist you on taking an object into a 3d model. some of our services very. we can make your item for you. stuart: why are you doing this? this is a whole new outlet for 3d printing.
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helping the entrepreneurs out there. a lot of them had, you know, starting to get printers in their homes. the quality of a product that they make verses of the product that we can offer is completely different. we have professional grade printers in our stores. they can be very detailed. that is not the kind of printer you would have in your home. we thought it was important to take the next stage. >> on this program, we have covered 3d printing very, very carefully. it is a key ring. a key change. stuart: it will bring in a range
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of products. that is what you are doing. >> that is right. a couple surfers had the idea that they wanted to mount their go pro in their mouth. they wanted to prototype some pieces to be able to do that. they have a initial design. the next thing you know, they are in business. stuart: you just buried the lead. we have a couple of guys in here. we made it possible by 3d printing. that is how you do it. >> i know. thank you for joining us. we appreciate it. we are feeling the impact right
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here at home. those riots have something to do with the downside feel on wall street this morning. keith makes this very bad for us. we have state farm cutting ties with comedian rob schneider. ♪
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stuart: look at this, the egg board is a right now in part because of those pro-democracy riots, that is only word to use, in hong kong overnight. some estimates say 100,000 people took to the streets. that is a riot. here is keith fitzgerald, why are the markets, why are our
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markets here so concerned about the pro-democracy riot riot over there in hong kong? >> i think the market is where they remember china will not hesitate to use force in the remember half of china's trade will disappear absence china. this has a potential to end very badly. >> a potential to end very badly. you know asia very well, i know hong kong, i used to live there. i've never seen anything like that in all the time in hong kong. do you think this is a prelude? >> i have been up most the night with a lot of contacts over there. the news coverage of this is being blacked out in mainland, china. it is not been reported in the media yet. in hong kong demonstrations seem to be the gathering force so i don't think this is going to go
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well in china decides it is not going to tolerate the threat to the capitalist party. stuart: i doubt they would allow this to spread to beijing. maybe just across the border from hong kong, that'll be another major negative for wall street. >> i agree. that is a very realistic possibility. all it takes is a flash of instant and they lose control be at stuart: think you for joining us as always. a big name and you know it, state farm: this ad because rob schneider stands on childhood vaccine. here is dr. manny alvarez with the fox medical a team. first of all, is there a link between childhood vaccinations and autism? >> not that i know. i have searched this very carefully. there is no scientific evidence whatsoever. more papers keep coming out
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saying there is no link. autism is a complex disease, genetic component to it. it is a different category. the simple fact you can take one vaccination and somehow you get a neurological defense response that leads to autism is just not there. stuart: what they have done is created an environment in which some parents have no vaccinations for their parents whatsoever. >> i hate these people, and i say this, they hide behind celebrity status, a big social media following. very talented actor, i get it. but come here, debate with me and scientific form what your ideas are. just because freedom of speech is there and people can say what they want to say when it comes to scientific information you
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are being irresponsible, and if it was a doctor saying that, these are the two just statements you're putting children at risk when a child dies of the measles, and they do die of the measles, what will you say to yourself? there are pockets in the community we see with people not being vaccinated, diseases we did not see before. because that is the land of know what else. sophisticated people in social media, i guess the whole thing. we are seeing measles, whooping cough, and it is getting worse and worse and worse and worse. so this whole issue of public figures hiding behind the celebrity status to contaminate the mind of good hard-working americans is irresponsible. stuart: i've seen cases where
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the family that vaccinated the children refuses to have play dates with another family whose children would not be vaccinated. >> it is creating confusions. a new proposal in which is a parent does not want to vaccinate the children, they have to get a doctors note, the doctor has to sign it, not the parents. i would like to see how many doctors will start signing notes for children going to school without vaccination. stuart: a doctor would have to sign it. no, you don't have to have this vaccination. >> good luck. stuart: you will find a doctor who will do what you want to do. i like the actor. stuart: like the product. i am with you. appreciate it. a new social network billing itself as an alternate of facebook. it is growing fast.
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how do you make any money if you don't have any advertisers? the question will be answered in a moment. the dow is now down 100 points again. ♪ ♪ mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ [ beeping ] for that moment, where right place meets right time.
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and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours. when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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nicole: the dow jones industrial average down 95 points sitting at 70,017. s&p 500 down and the nasdaq composite at 44.95 down 17 points. energy has been week today and for the entire quarter, you can see names like exxon and chevron dow components down 2.5%, a new low there. while the s&p up 1%. look, still holding onto some gains, this is one of the big shareholders trying to help with the cash crunch it has been facing under significant pressure. they have a lot of faith in the new ceo, they can do very well in the race baggage fees and other fees. the stock is doing well.
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your customers, our financing.
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your aspirations, our analytics. your goals, our technology. introducing synchrony financial, bringing new meaning to the word partnership. banking. loyalty. analytics. synchrony financial. enagage with us. stuart: he promises to be the anti-facebook. it is called ello. it says ello will not sell your data to advertisers. the site launched in february, it has been surging in popularity in the past week or so. i don't get it. here is the ceo talking to melissa francis on friday. >> see facebook as advertising platform, not a social network.
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facebook is run visit we do sell ads, the advertisers are the customer and the users, what is being bought and sold. they are the product. on ello we are just making a social network that is fun to use. stuart: it is an invite only network. to tell us whether or not you should jump into it is mashable senior tech correspondent. welcome back to the program. we just said this thing is surging in the last couple of weeks. what is the big deal? >> they're getting 30,000-50,000 ads an hour, which is huge. to backtrack a little bit because everybody is sort of confused. it is spawned on the anti-facebook people are saying because they have a policy you have to use your legal name and this upset the community because people are using different
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names, they don't want to be tracked, this is a way for no advertisers to collective action about you and you can be whoever you want to be. stuart: if they invite me and i accept the invitation, i can use any name i like, don't have to prove it, nothing. and that is a privacy thing. they will not sell, they cannot sell my information because they don't know who i am. >> if there are no advertisers, they can hire the talent in order to fix it. that is one of the major challenges recently. stuart: where is the money coming from? >> we don't really know quite yet. there have been some talks they will have membership, fees and stuff like that, but we really don't know just yet.
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there are people really looking outside of the facebook and twitter box looking for something different. what is interesting is people are going onto facebook and kind of boasting about how they have a ello request. just another place to be. stuart: ello has to say stuart varney, we want you on. that is how it works? >> or if i get a request, i can send it to you. you can ask for a request, granting certain people a request. it has been kind of choosing and that is sort of the factor, you feel sort of special, i guess. once somebody is on the site, they can send an invite to somebody else. stuart: 35,000 per hour? >> 30,000 to 50,000 per hour on friday. stuart: could i invest in ello?
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no. do they make any money? i don't know, i don't think so. i will have to see of this thing explodes and see how are they making money and can i make money with them. thank you very much. >> thank you. stuart: he was one of the first investors on facebook. he made a billion dollars on that deal. deirdre bolton will be speaking to him live throughout the next hour. do you have any idea? >> thank you very much, i am blowing in from the west. stuart: what is the next big thing, do you know? >> he is an innovator, a writer, philosopher and certainly involved in numerous projects, everything from transatlantic power to disrupting education. we have a lot of ground to cover, but i am actually going to quote him from his book, he encourages entrepreneurs to ask a big question, what truth to
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very few people agree with you on? if you think about that question, it is a good place to think about starting the company, saw a lot of ground to cover, a great conversation. in the meantime, back to you. stuart: at 1:00 sharp on the fox business network. coming up next, they pick a stock over the weekend, usually moves. not the case today. i'm only in my 60's.
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and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. >> some allies agreed to join president obama in fighting the islamic state in iraq, but not in syria. former ambassador to the united nations john bolden on the commander-in-chief's conundrum. tonight at 7:00 p.m. eastern, 4:00 pacific. please join us. stuart: you know, we really were expecting a barons bounce for jetblue stock. look at it right now, that is not a bounce. it is a move to the upside, hardly a bounce. phil roosevelt is here. let's get this straight, over the weekend you said you liked
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jetblue. in the past when you say you like a stock thing goes straight up, today it is up $0.04. explain. >> we think it is, we look at the longer-term. a great position to make some more money, a new ceo, he seems more interested in profitability and the predecessor. lot of free goodies, a lot of legroom. we believe they could start charging for some of that and add a few more seats to the planes. stuart: you say there is room for them to come down market a little bit. a little bit more like bare-bones airline industry. the idea is to start charging for some of the stuff, it would
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have an effect on earnings per share. >> you can do that because most of the flights are jampacked full even at very high prices for jetblue has room to maneuver for more revenue and the current passenger load maybe reconfiguring the plane? >> right now they have 20% more legroom than th some of their competitors. still have more legroom but if you more seats on the plane. stuart: i don't think that will be that unpopular. do you know for a fact they have a plan to do that or are you just offering advice and say if you did that, your stock would go up? >> the ceo has indicated he is more open to that kind of thing than in the past, and we think that is clearly the way for them to go to become more profitable. we think they will be at stuart: jetblue is outstanding newcomer.
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that is my opinion. >> people look forward to flying. >> there is no first class on it. but they are looking into that, started experimenting with the first class. cannot have a first-class. but you still like it even though it is up only $0.04, you like it. >> we do. it takes a little patience. stuart: thank you very much, always good. your take on the whole program next. "hello. you can go ahead and put your bag right here."
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"have a nice flight." ♪ music plays ♪ music plays traveling can feel like one big mystery. you're never quite sure what is coming your way. but when you've got an entire company who knows that the fewest cancellations and the most on-time flights are nothing
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if we can't get your things there, too. it's no wonder more people choose delta than any other airline. oh get >> we are literally under assault in our industry.
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it is incredible to me how far removed. this is a divide beyond beyond. stuart: he runs 40 applebee's. here is what mark says. president obama did not read it in the newspaper. if i had a dollar every time president obama blamed others for his mistakes, i would be a millionaire. if he is fired for your private view, then sue.
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here is the special edition of risk and reward. stuart: one of the most admired thinkers. as an investor, he was first in facebook. >> he revolutionizes the way we pay. as the creator of fellowship. >> this is a special edition. live from san francisco. here is teardrop bolted. >> welcome to a special edition of risk and reward. i am here right by the golden gate bridge. he'd


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